Thursday, September 30, 2010

Sobha Developers will launch about 12 million square feet of residential projects this fiscal year and has implemented selective price increases, according to a top company official.
“Prices have been stable. This quarter on, there have been selective price increases on some products,” managing director J C Sharma told the Reuters India Infrastructure Summit on Wednesday.
Of the 12 million square feet projects the company plans to launch, Sobha hopes to sell about 3 million in the year to March 2011, Sharma said.
The company, which has a significant presence in southern India, reported a surge in standalone net profit for the April-June quarter.